Blow-Molded Plastics Global Market Report 2023

NEW YORK, March 3, 2023 /PRNewswire/ -- Major players in the blow-molded plastics market are LyondellBasell Industries Holdings B.V., Berry Global Inc., Pet All Manufacturing Inc., Inpress Plastics Ltd., The Dow Chemical Company, Comar LLC, Rutland Plastics Ltd., The Plastic Forming Company Inc., Agri-Industrial Plastics, Garrtech Inc., North American Plastics Ltd., Creative Blow Mold Tooling, Pet All Manufacturing Inc., Exxon Mobil Corporation, and APEX Plastics.

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The global blow-molded plastics market grew from $89.39 billion in 2022 to $92.93 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The blow-molded plastics market is expected to grow to $108.75 billion in 2027 at a CAGR of 4.0%.

The blow molding market consists of sales of compound blow molding and compression blow molding.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Blow molding is a plastic forming technique used to make hollow plastic products out of thermoplastic materials. Blow molding is also a quick manufacturing solution and offers versatile products; hence, it is appealing to many industries, such as food suppliers, medical and pharmaceutical companies, and others due to the wide range of customizable bottles, containers, and other products.

Asia-Pacific was the largest region in the blow-molded plastics market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the blow-molded plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of blow-molded plastics are polypropylene, acrylonitrile butadiene styrene (abs), polyethylene, polystyrene, PVC, PET, and other types.Polypropylene (also known as propane or propylene) is a tough, rigid, crystalline thermoplastic derived from the monomer propane (or propylene).

Polypropylene is used in a variety of applications, including plastic packaging, machinery and equipment parts, and even fibers and textiles. Extrusion, injection, and stretch are the various technologies used in blow-molded plastics and the products are used in packaging, consumables and electronics, automotive and transport, building and construction, medical, and other applications.

Increased usage of face masks, protective gowns, and packaging bottles for hand sanitizers is expected to propel the growth of the blow-molded plastics market going forward.Due to the COVID-19 outbreak, the demand for and sale of facemasks, hand sanitizers, and face shields have gained pace.

People are purchasing hand sanitizers in little bottles that are convenient to carry in their wallets or handbags.Blow molding is a technique for making hollow things such as bottles, face masks, and other packaging from hot liquid plastic.

For instance, according to the All Food and Drug License Holders Foundation (AFDLHF), an Indian association that represents 7,000 pharmaceutical suppliers, the total market for masks in India has grown to Rs 4.5 billion ($60 million) in the first two months of 2020, from about Rs 2 billion ($26.7 million) annually in 2019. Therefore, the increased usage of face masks, protective gowns, and packaging bottles for hand sanitizers will drive the growth of the blow-molded plastics market.

Increasing efforts in product R&D is a key trend gaining popularity in the blow-molded plastics market.Companies are investing in R&D to produce new industrial plastics to keep up with market competitiveness and meet evolving end-user demands.

For instance, in 2020, Comar, a US-based manufacturer and designer of innovative plastic solutions, announced the establishment of a customs facility in Rancho Cucamonga, US.The new 230,000-square-foot facility will be Current Good Manufacturing Practice regulation (cGMP)-compliant, ISO 13485-certified, and FDA-registered, with dedicated injection blow molding, injection stretch blow molding, and injection molding cells.

The new facility will include a full-service mold prototyping lab as well as a specialized mold sample and development machine, allowing customers to quickly move from concept through design, prototype, and full production.

In October 2021, Recycler EFS-plastics Inc., a Canada-based post-consumer plastics recycler with a focus on processing bales of low-value plastics, acquired Exi-Plast Custom Moulding Ltd. for an undisclosed amount. Through this acquisition, EFS can directly manufacture finished products with high levels of post-consumer recycled plastic for its customers. Exi-Plast Custom Moulding Ltd. is a Canadian company that provides custom plastic molding services, particularly in blow-molded solutions for designers, manufacturers, and distributors.

The countries covered in the blow-molded plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The blow-molded plastics market research report is one of a series of new reports that provides blow-molded plastics market statistics, including blow-molded plastics industry global market size, regional shares, competitors with a blow-molded plastics market share, detailed blow-molded plastics market segments, market trends and opportunities, and any further data you may need to thrive in the blow-molded plastics industry. This blow-molded plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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